Key Points
The festive season is likely to have propelled sales growth for passenger vehicle manufacturers as Maruti Suzuki India Ltd, Tata Motors Ltd and Mahindra & Mahindra ltd amongst others..
For Passenger Vehicles, retails are expected to grow 6-8% YoY during the month of November largely driven by the festive season demand, said analysts at Motilal Oswal Financial Services..
For Passenger Vehicles, festive period growth was largely underpinned by healthy SUV (sports utility Vehicles) demand and 25-30% higher discounts YoY for lower-end model, as per analysts at Motilal Oswal Financial Services..
While sales momentum may remain strong , however Passenger Vehicles also see a higher base of previous year and hence overall growth may not seem substantial says Singh..
Inventory levels for Tata Motors and M&M stood at 3-4 weeks, while Maruti has a slightly higher inventory of 4-5 weeks due to higher stock of lower-end vehicles..
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